Tom Nolan + 2,441 TN December 21, 2021 Tsvetana Paraskova Latest articles from Tsvetana CNOOC To Take First LNG Cargo From U.S. Exporter Published 21 December 2021 | viewed 17 times China National Offshore Oil Corporation (CNOOC), the largest Chinese importer of liquefied natural gas, has signed a deal with U.S. firm Venture Global LNG to… Europe’s Gas Prices Jump To Record As Key Pipeline From Russia Halts Flows Published 21 December 2021 | viewed 729 times European gas prices jumped to an all-time high on Tuesday after natural gas on a key pipeline from Russia to Germany reversed flow eastward and… Tight U.S. Oil Inventories Prop Up Oil Prices Published 19 December 2021 | viewed 13,596 times U.S. oil demand and inventories have offered support to oil prices in recent months and, volatility excluded, have continued to do so, with stocks below… Lukoil: Here's How Oil Could Hit $380 Per Barrel In 2050 Published 17 December 2021 | viewed 13,415 times Oil prices are set to exceed $100 per barrel in all three scenarios for global energy developments through 2050, with inflation and carbon prices potentially… Russian Lawmaker: Nord Stream 2 Could Become Operational Next Month Published 17 December 2021 | viewed 2,549 times The Russia-led Nord Stream 2 pipeline could start shipping natural gas to Germany as early as next month, as Europe would not want to drag… Europe’s Gas Prices Plunge As Russia Signals More Supply Is Coming Published 17 December 2021 | viewed 6,368 times The European natural gas benchmark prices tumbled by 15% early on Friday after Russia’s gas giant Gazprom booked last-minute capacity on a pipeline to ship… IEA: Coal Set For Record Highs In 2022 Despite Net-Zero Pledges Published 17 December 2021 | viewed 1,380 times The economic rebound from the pandemic is taking coal power generation to a new record high this year, with global coal demand likely hitting another… Oil Prices Dip As Omicron Cases Surge Published 17 December 2021 | viewed 9,637 times Oil prices fell early on Friday and were on track for a weekly loss as the fast-spreading Omicron COVID variant increased concerns about a potential… Rampant Inflation Drives Investors To Commodity ETFs Published 16 December 2021 | viewed 2,686 times It is not only the Fed that has had to recalibrate its view on inflation in recent weeks. Investors and traders are not certain how… U.S. Gasoline Prices Continue To Fall Ahead Of Christmas Published 16 December 2021 | viewed 2,411 times U.S. gasoline prices have dropped by $0.10 since Thanksgiving and are set to fall further until Christmas, although the holiday prices could be close to… China Draws From Stockpiles Again As Refiners Demand More Crude Published 16 December 2021 | viewed 6,468 times Driven by high refinery throughput, China likely drew crude oil from its commercial and strategic inventories in November, according to estimates from Reuters columnist Clyde… Europe’s Energy Crisis Just Got Worse Published 16 December 2021 | viewed 6,401 times On top of an ongoing natural gas crunch, Europe faces the winter season with reduced nuclear output in France, exacerbating the energy crisis and leaving… Jet Fuel Continues To Hold Back Crude Demand Recovery Published 16 December 2021 | viewed 3,273 times Global demand for oil products other than jet fuel made a full recovery to pre-crisis levels in the third quarter of this year, thanks to… Quote Share this post Link to post Share on other sites
Tom Nolan + 2,441 TN December 21, 2021 Latest articles from Irina Slav Is The White House Really Ready To Support U.S. Oil? Published 20 December 2021 | viewed 3,052 times Earlier this month, Energy Secretary Jennifer Granholm told the U.S. oil industry that she wanted to work together on "future-facing solutions" and asked oil companies… Russia Reluctant To Boost Gas Flows As Cold Snap Hits Europe Published 20 December 2021 | viewed 7,576 times Natural gas exports from Russia via the Yamal-Europe pipeline will remain limited at the start of this week as true winter begins and Russia keeps… Libya Once Again Tries To Boost Oil Production Published 20 December 2021 | viewed 1,471 times Libya is considering a reward-and-penalties system for oil companies in order to motivate them to meet production targets. Per a report by Bloomberg, the plan… Cyber Pirates Could Hold The Renewable Revolution For Ransom Published 19 December 2021 | viewed 2,692 times A few years ago, researchers proved that wind turbines could be hacked and manipulated. Solar farms can also be taken hostage by hackers: one Dutch… Chinese Teapot Refineries Ramp Up Oil Imports From Iran Published 17 December 2021 | viewed 4,914 times Independent Chinese refineries increased its crude oil imports from Iran last month as the government issued a new batch of import quotas. Total crude imports… Goldman Sees Oil At $100 By 2023 Published 17 December 2021 | viewed 7,120 times Goldman Sachs has forecast crude oil prices could hit $100 in 2023 as demand growth outpaces supply growth. "There's insufficient supply in the face of… No One Knows What’s Next For Oil Demand Published 16 December 2021 | viewed 6,477 times The last two weeks saw three major energy organizations release their outlooks for the immediate future of oil demand. While sometimes these outlooks largely align… Climate Change Is Threatening 40% Of All Global Oil And Gas Reserves Published 16 December 2021 | viewed 3,760 times Extreme weather events resulting from the changing climate are threatening some 40 percent of the world’s recoverable oil and gas reserves, risk consultancy Verisk Maplecroft… Warren Wants Big Oil Executive Pay Investigated Published 16 December 2021 | viewed 4,212 times Senator Elizabeth Warren has asked the Securities and Exchange Commission to launch an investigation into the remuneration of executives at several oil companies, including Marathon… The White House Just Put The Oil Export Ban Rumor To Rest Published 15 December 2021 | viewed 4,954 times When Democratic Congressman Ro Khanna told media the White House was considering an export ban on crude oil, West Texas Intermediate was trading above $80… Oil Rebounds On Large Crude Draw Published 15 December 2021 | viewed 33,026 times Crude oil prices recovered somewhat on Wednesday morning after the Energy Information Administration reported an inventory draw of 4.6 million barrels for the week to… Quote Share this post Link to post Share on other sites
Tom Nolan + 2,441 TN December 21, 2021 https://oilprice.com/Energy/Energy-General/Europe-Faces-Full-Blown-Energy-Crisis-As-Gas-Prices-Smash-All-Records.html Europe Faces Full Blown Energy Crisis As Gas Prices Smash All Records By ZeroHedge - Dec 21, 2021, 11:00 AM CST A Shortage of natural gas, nuclear outages, declining wind power output, and cold weather boosted power prices in Europe this week The price at the Dutch TTF hub soared some 10 percent to 165 euros per MWh France's EDF restarted fuel-burning generators as it halted four nuclear generators Join Our Community Europe's energy crisis got even worse on Tuesday as a shortage of natural gas, nuclear outages, declining wind power output, and cold weather boosted prices. The gas price at the Dutch TTF hub, the benchmark gas price for Europe, soared 10% to a new record high of 165 euros per megawatt-hour after gas entering Germany at the Mallnow compressor station plunged to zero. Flows were diverted eastward to Poland. European gas prices hit a record high. For some context, European NatGas is trading at an oil-barrel-equivalent price of $340 (why aren't more producers shifting?) Compared to US NatGas, which has traded in an arbitrageable range for 15 years, things are out of control... And all of this as gas flows into Europe plummet. Russia's Gazprom PJSC has steadily reduced gas flows to Europe as the controversial Nord Stream 2 pipeline had its certification delayed until possibly July. No new flows into Europe are forcing utilities to drain their gas storages (already at seasonal lows). Some utilities have had to restart fossil fuel generators to avoid grid disruption. The energy crisis worsened in the last several days as France; usually, an exporter of power, has been desperately seeking imports and even restarted fuel-burning generators as the country's top power utility, Electricite de France SA, halted four nuclear reactors accounting for 10% of the country's nuclear capacity, straining power grids as the continent copes with cold weather. "It's illustrating how severe it is when they're actually starting to burn fuel oil and importing from all these countries," said Fabian Ronningen, an analyst at Rystad Energy. "All the unexpected maintenance is also causing the extremely high cost of supply, which is reflected in the market prices." 30% of France's nuclear capacity will be offline in the coming weeks. Germany will lose about half its nuclear capacity next year. As the Northern Hemisphere winter begins, the continent will be at the mercy of Mother Nature. Another issue developing this week is that Germany's power output from thousands of wind turbines has plunged to five-week lows as cold weather strains the grid. As a result of the grid strain, German power prices climbed 30% to a record 431.98 euros per megawatt-hour. It looks like the European energy crisis is rapidly accelerating and could get even worse as cold weather is expected to persist for the coming weeks. Quote Share this post Link to post Share on other sites
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